GO-Biz Rolls Out First Awards of 2015 For fiscal year 2015, the Governor’s Office of Business and Economic Development ("GO-Biz") is authorized to award $151.1 million in California Competes Tax Credits to taxpayers who apply for and compete for the lucrative credits. There were three application periods for the 2014-2015 fiscal year. On January 15, GO-Biz awarded $31 million in tax credits to 94 taxpayers.

Last month, Reed Smith, acting for its client, Tax Analysts, struck a blow for transparent tax administration, by convincing the California Franchise Tax Board (the "FTB") to disclose certain forms used by FTB auditors.

On November 14, the Fresno County Superior Court determined that Swart, an Iowa-based corporation with a tangential investment in California, did not meet the statutory requirement for doing business in California.

The California Court of Appeal held in a published decision Sept. 2 that Reed Smith secured a significant benefit for the public by bringing a case that resulted in the Court striking down portions of an unconstitutional and discriminatory tax incentive in Cutler v. Franchise Tax Board.

What’s the Option? We’re all still waiting for a final decision in Gillette.1 In the meantime, taxpayers have an option for the returns due this fall. They may compute their apportionment using one of the following two methods:

Happy 2014! The start of the New Year invites a look back on highlights from the past year. In case you missed it, here’s a recap of what happened in the great Golden State during the last quarter of 2013.

Welcome to the Reed Smith California State Tax Quarterly Update for the 3rd Quarter of 2013. With fall in full swing and summer an almost distant memory, we will update you on recent happenings in the California tax world ..